ABO Wind has reported profit after tax of €24m in 2022, compared with €14m in 2021.
Group turnover increased to €231m in 2022, compared with €127m in 2021.
Total output, which includes changes in inventories in addition to sales, reached €308m, compared with €187.5m in 2021.
The inventory of work in progress includes, among other things, projects in the development phase.
The expenses incurred for wind farms, solar projects and battery energy storage systems are capitalised in the balance sheet.
ABO Wind works on the projects for several years before the turnkey construction or before selling the projects at an earlier stage.
The development portfolio has grown in 2022 and includes projects with a total output of around 21GW.
The wind, solar and battery projects under development are spread across 16 countries, with a clear focus on Europe.
In addition, ABO Wind is active in Latin America, Canada, and Africa.
This development pipeline of 21GW comprises only projects for grid connection.
In addition, the company is developing renewable energy projects for the production of green hydrogen.